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Amex Gold Approval! & CLI w/ Balance

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Anonymous
Not applicable

Amex Gold Approval! & CLI w/ Balance

On October I applied for the Amex Gold and got rejected for a few reasons -  Fico, Short credit history, and % of revovling balance is too high.  My Fico was around 740~ but I figured since I only opened a BCE on May and was using ~2k/6k balance for the 0% APR they didn't like that. 

Skip to January, I had ~3.4k/6k balance on my BCE but I saw that I was preapproved for the Gold and decided to try again for the Rose Gold promotion. I was instantly approved! I also decided to ask for a CLI to 10k and was approved for that as well. I didn't want to be greedy for the 3x since I had a balance with high utilization. This would be my first charge card and my first CC with a 5 digit limit!

I was skeptical because I was using 3k/6k of my CL but moral of the story, as long as you pay on time and have no derogatory remarks, having balances won't affect CC and CLI approvals. 

Message 1 of 7
6 REPLIES 6
Priory_Man
Valued Contributor

Re: Amex Gold Approval! & CLI w/ Balance


@Anonymous wrote:



I was skeptical because I was using 3k/6k of my CL but moral of the story, as long as you pay on time and have no derogatory remarks, having balances won't affect CC and CLI approvals. 


Firstly, congrats on your approval.

I might have to throw a bit of a wrench in the above statement though.

Amex has declined CLI's if you are only paying the minimum amount per month on a high balance card. I think the wording is something like "average monthly payment has been too low", so paying on time is no guarantee of success but is certainly something that needs to be done and is certainly figured in to the equation.

Again congrats on your approval, and best of luck on all future ventures.







"Total revolving credit $286,000 Current UTIL >1%"
Message 2 of 7
AverageJoesCredit
Legendary Contributor

Re: Amex Gold Approval! & CLI w/ Balance

Congrats. Income helps too but ill also add that line Priory_Man referenced also is given when paying in full. Lol, i do this with my Amexs almost right after the charge posts. Its been included in my most recent denials
Message 3 of 7
19eighty5
Senior Contributor

Re: Amex Gold Approval! & CLI w/ Balance

Congrats on the approval and CLI!

FICO 8 (Feb 2018):EX- 519, TU- 530, EQ- 545
FICO 8 (Sept 2022):EX- 706, TU- 685, EQ- 684
What's in my wallet:


Message 4 of 7
ZeroChance
New Contributor

Re: Amex Gold Approval! & CLI w/ Balance

Congratulations on the AMEX rose gold card!!!

 

I was so excited to get mine last week!  Enjoy!  It's a beautiful card.

Message 5 of 7
Anonymous
Not applicable

Re: Amex Gold Approval! & CLI w/ Balance

Congrats on your approval and CLI !!!

 

Message 6 of 7
Anonymous
Not applicable

Re: Amex Gold Approval! & CLI w/ Balance

Congrats!

Message 7 of 7
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